Honeywell Receives $75M AF Turbine Engine Contract Modification

Honeywell International (NYSE: HON) has received a $75 million contract modification to support the U.S. Air Force‘s Versatile Affordable Advanced Turbine Engines III and Beyond program.

The Defense Department said Monday the VAATE initiative is a collaborative effort of multiple government agencies and companies that aim to develop new turbo-propulsion engine technologies by 2017.

The Air Force Research Laboratory serves as the contracting activity for the program and will obligate no funds at the time of award of the modification.

Honeywell will perform contract work in Phoenix, Arizona, through Jan. 28, 2023.

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